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U.S. stock futures tumbled Monday amid a rout in global stocks after Standard & Poor’s downgraded the U.S. credit rating for the first time. S&P cut the long-term debt rating for the U.S. by one notch to AA+ from AAA late Friday. The move wasn’t unexpected, but it comes when investors are already feeling nervous… Continue Reading US stock futures tumble after S&P downgrade of US

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Hiring picked up slightly in July and the unemployment rate dipped to 9.1 percent. The modest improvement may quiet fears of another recession, but it wasn’t enough to prevent another losing day on Wall Street. Employers added 117,000 jobs last month, the Labor Department said Friday. That’s better than the past two months, which were… Continue Reading Unemployment rate dips, economy adds 117K jobs

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Unemployment remains stubbornly high at just over 9 percent, but it’s the alarming number of long-term jobless that is causing fresh concern for Democratic lawmakers. About 42 percent of the nation’s 14.1 million unemployed have been out of work for at least six months, and nearly one in three has been jobless more than a… Continue Reading Dems warn long-term jobless could derail recovery

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Stock indexes came back from deep losses in the morning and ended Wednesday with small gains. The Dow Jones industrial average avoided its longest losing streak since Jimmy Carter was president. The Dow rose 30 points — after being down 166 — to break an eight-day losing streak. Nine days would have been the longest… Continue Reading Dow edges higher, breaking an 8-day losing streak

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Oil prices fell below $92 a barrel Wednesday as more signs of a slowing U.S. economy raised concerns about demand for everything from gasoline to natural gas used to cool homes. Benchmark West Texas Intermediate crude dropped $2.10 to $91.69 a barrel in midday trading on the New York Mercantile Exchange. In London, Brent crude… Continue Reading Oil falls on concerns about economy and demand

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Stocks slumped again Wednesday as worries about the U.S. economy deepen. The Dow Jones industrial average was down 101 points in afternoon trading, putting in on track for its ninth straight day of losses, the longest losing streak since February 1978. The S&P 500 index was headed for its eighth straight loss. Investors are becoming… Continue Reading Dow average is headed for its ninth straight loss

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CenturyLink post 78 percent lower profit

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Phone company CenturyLink Inc.’s second-quarter profit fell 78 percent as it had to write off more than expected of the value of Qwest, which it bought in April. In another wrinkle to the $12.2 billion acquisition, the company lost more broadband subscribers in the Qwest areas than it gained, something that never happened when Qwest… Continue Reading CenturyLink post 78 percent lower profit

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Colorado Springs is set to have one economic development organization – one that combines the efforts of the Economic Development Corp. and the Chamber of Commerce. After an meeting Tuesday that lasted more than six hours, the two groups voted unanimously to merge operations – at least in principle, said Bill Hodgkins, board president for… Continue Reading Chamber/EDC merger: Structure? Jobs? Layoffs?

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Oil falls as nation’s crude supplies rise

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Oil prices fell Wednesday after the nation’s oil and gasoline supplies rose last week with the release of millions of barrels from the Strategic Petroleum Reserve. Benchmark West Texas Intermediate crude for September delivery lost $1.49 at $98.10 per barrel in midday trading on the New York Mercantile Exchange. In London, Brent crude rose 8… Continue Reading Oil falls as nation’s crude supplies rise

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Colorado Springs ranks number four on the most affordable cities, according to financial news magazine Kiplinger. The city is the only one in Colorado to make the list, “10 best value cities for 2011.” Kiplinger cited the Springs’ cost of living, median household income and the local unemployment rate. The list is supposed to showcase… Continue Reading Springs No. 4 most affordable, Kiplinger says

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